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Complementary information
Valuation of items involving in-kind contributions (section 6.5.2 of the CFI Policy and program guide)
The CFI recognizes eligible items involving in-kind contributions at fair market value. It is the responsibility of the institution to ensure that the fair market value reported to the CFI for such items is reasonable.
Fair market value assessment
Various methods and multiple sources of information can be considered to assist in the establishment of fair market value. Included in the following document are examples of methods that can be used to assess fair market value and circumstances where an appraisal may be required.
– Fair market value assessment methods
Competitive bid process
The following document includes important considerations for the competitive bid process of items involving in-kind contributions provided by suppliers, as well as examples of acceptable bid evaluations, including a fair market value assessment.
– Competitive bid process and examples
Acceptable cost allocation methods for CFI-funded construction or renovation that is part of a larger undertaking (section 6.4.4 of the CFI Policy and program guide)
A framework for the evaluation of cost allocation methods is included below. Also included is an example of a detailed cost allocation method that has been developed by Hanscomb Limited, professionals skilled in the field of quantity surveying and project management. A simplified cost allocation method is presented as an alternative. The CFI will allow an institution to use a simplified cost allocation method if the average cost of the CFI-funded space is representative of, or higher than, the average cost of the overall undertaking. Other methods may also be acceptable. Institutions must use judgment in establishing the most appropriate cost allocation method for the project.
– Framework for the evaluation of cost allocation methods
– Example of a detailed cost allocation method
– Simplified cost allocation method
Reporting scenarios related to acceptance of cash back or other benefits from a supplier (section 6.4.2 of the CFI Policy and program guide)
A description of the reporting scenarios relating to acceptance of cash back and other benefits (including additional items) offered by a supplier is included below. Also included is an example relating to each of these reporting scenarios.
